Since the start of the COVID-19 pandemic, courts have alleviated some financial burdens of bankrupt retailers by granting “mothball motions,” allowing companies to shelve post-petition rental payments, according to an article in the August ABI Journal.
Total commercial Chapter 11 filings in July 2020 increased 52% from the previous year, according to data provided by Epiq.
The ABI reported total commercial Chapter 11 filings during the first six months of 2020 increased 26% to 3,604 from the 2,855 total filings during the same period in 2019, according to data provided by Epiq.
Bankruptcy judge Barbara Houser, president of the American Bankruptcy Institute, issued a statement on ABI’s commitment to diversity and inclusion, including an update on the work of ABI’s diversity and inclusion working group.
Total commercial Chapter 11 filings in May 2020 increased 48% from May 2019, according to data provided by Epiq Systems. However, total bankruptcy filings in May 2020 were down 42% from total filings in May 2019.
A “fourth” exit strategy of a structured dismissal in Chapter 11 continues to grow as a popular option for companies after they conduct a §363 asset sale, according to an article in the May issue of ABI Journal.
The American Bankruptcy Institute (ABI) launched a COVID-19 resources website for bankruptcy professionals and the public to access information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic.
The American Bankruptcy Institute selected Chief Bankruptcy Judge Barbara J. Houser as president of the board of directors for a one-year term. In addition to Houser’s appointment, Robert P. Reynolds was named president-elect and will become president in April 2021.
The American Bankruptcy Institute is offering complimentary access to its collection of more than 2,700 sessions on its eLearning website during the ongoing COVID-19 quarantine.